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It may be that the “gap” is now not there or that the “gap” has changed, but not that the road got a bit challenging or your competition is changing tack. There will always be opportunities to “pivot” as you build your business but it is key you choose the right time to do this, if at all. Stay focussed on it, don’t waiver when times get tough. When you saw that gap in the market you started your business. They stay laser focussed on the gap in the market Use your purpose and values as your compass and you’ll be sure to stay on track. It should be one of your measures of how successful you are as a business, what’s the “feel of the place” and are your team happy? What you build within your company will be reflected in the outside world. Make sure you actively work on enhancing the culture and team spirit don’t take it for granted. Maintain that entrepreneurial spirit, foster it in your team, and always be on the lookout for new opportunities. They’re always focussed on building a strong culture When an investor or potential buyer looks at your business it is key you understand and actively manage your true value drivers.Ĥ. It's key that businesses look to build and then leverage the value they have built whether that is enhancing your management team through new hires or incentivising the current team through share options, or looking for new channels to market. Areas such as team and culture, innovation through to the management team and scalability all hold equal importance. Value is measured across all aspects of your business not just the numbers on a balance sheet. They know where the value sits in their company and build on it Strategy and strategic planning should be an ongoing activity whether at your initial meets around the coffee table or more formal events in the boardroom it’s not a one off exercise. Revisit this frequently with your leadership team and amend it to take into account any changes. Develop a simple approach to your planning that focuses only on the most important things. Planning is important, but rigid over planning is unhelpful and out of touch with the pace of change today. Strategy after all is about where you’re going, not where you’ve been. Though historic data is important and can be used for a wide range of things, analysing our way into the future is not the best way to move ahead. Strategy should be a medium for discovering alternative possibilities and for evolving and reshaping your business for tomorrow. However, so often it is with a delivery-focus and has been arrived at only through assumptions based on yesterday’s data. The word ‘strategy’ is used in almost every business with enthusiasm. They use strategy to explore future possibilities This article highlights 8 habits of forward-looking businesses. But for many that requires a shift in thinking from an obsession over using historical performance to predict future performance, to a creative exploration of what could be. For businesses hoping to survive, developing a way to innovate and stay relevant is of utmost strategic importance. With the pace of change in the world only accelerating, most businesses are running hard just to stand still. What works for you today won’t necessarily work tomorrow.